In corporate news, Bed Bath and Beyond(BBBY) will report earnings after the closing bell. Comcast(CCV) and Time Warner Cable(TWC) representatives will appear before the Senate Judiciary Committee to plead their case for merging the companies.

Most Asian markets also managed gains, led by Hong Kong's Hang Seng with a 1.1% rise and Australia's ASX All Ordinaries adding 0.9%. Japan's Nikkei continued its decline, falling 2.1%, as hopes fade of more central bank stimulus. Toyota closed down 3%.